Crypto Ownership Surges in 2024 as Market Hits New Highs

Despite initial challenges in the first quarter, 2024 proved to be a landmark year for cryptocurrencies. Thirteen of the top 20 digital coins, which account for over 90% of the total market value, experienced triple-digit growth. Monthly trading volumes reached an average of $1.5 trillion, second only to the record highs of 2021, while global crypto ownership soared to unprecedented levels.

Data from TechGaged.com highlights a 33% increase in global crypto ownership during the 2024 bull run, with 562 million people owning or using digital currencies by year-end.

Second-Largest Growth in Five Years

The surge in crypto adoption signals more than just market activity—it reflects a global transformation in how people transact, invest, and manage their finances. According to Triple A’s State of Global Cryptocurrency Ownership report, the 2024 adoption wave ranks as one of the most significant in cryptocurrency history.

Improved regulations that boosted investor confidence and opened doors for new financial products, the advancements in blockchain technology and the approval of Bitcoin ETFs, triggered a surge in institutional and retail crypto adoption. Macroeconomic pressures, including inflation and currency devaluation, only fueled crypto adoption, helping the crypto market to reach more users than ever.

According to the survey, 562 million people used cryptocurrencies as a payment or investment method in 2024, 33% more than the previous year. That means 142 million people worldwide embraced cryptos, the second-highest growth in the past five years. Statistics show only 2023 saw more new crypto users, around 200 million, followed by 2022 and 2021, which added 70 million and 50 million users, respectively.

On a global scale, around 6.8% of the world’s population owned crypto in 2024, with ownership varying significantly by region and country. The United Arab Emirates and Singapore topped the list, with 25.3% and 24.4% of their population holding cryptocurrencies. Turkey, Argentina, and Thailand rounded the top five list, with 19.3%, 18.9%, and 17.6% shares, respectively.

The United States ranked eighth, with a 15.5% crypto ownership, twice the global average. Surprisingly, the traditional financial hub Switzerland reported lower much lower figure, with 11.5%. of crypto owners. The survey also showed that six of the top ten countries with the highest share of crypto owners were emerging economies, proving that crypto adoption remains mostly a non-western trend.

South America drives crypto adoption with a 116% surge in new users

A regional comparison shows huge differences in crypto ownership. The world’s largest crypto region in exchange revenue and trading volume, North America, saw a 38% annual increase in crypto adoption, growing from 52 million to over 72 million users. Asia also witnessed steady growth, with a 21.8% rise in 2024, bringing its total to 326 million crypto users.

European crypto adoption growth was much bigger, with nearly 19 million new users and a 60% increase in a year. However, all three regions were outpaced by South America, which saw a staggering 116% surge in crypto adoption, double Europe’s growth rate and triple that of North America. In 2024, South America’s crypto population grew to 55.2 million, surpassing Europe by 6 million users and narrowing the gap with North America to just 17 million.